What years does this Myanmar ICT Market cover?

The report covers the Myanmar ICT Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Myanmar ICT Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Myanmar ICT Market Size

Market Size of Myanmar ICT Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
Forecast Data Period	2024 - 2029
Historical Data Period	2019 - 2022
CAGR	0.50 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Myanmar ICT Market Analysis

Myanmar's ICT Market is expected to grow at a CAGR of 0.5% over the next five years. Myanmar's growing emphasis on digital technology, cyber security, artificial intelligence, robotics, healthcare, and IT drives the market's growth.

The ICT sector includes both the IT and Telecom markets. IT investments are growing, and the demand for the ICT market is expected to grow significantly over the next five years. The increasing need to explore and adopt digital technologies and initiatives, the increase in the overall demand for digitalization and scalable IT infrastructure, the wide 5G networks adoption, and the rising penetration of technology investments are significantly boosting the ICT market growth.
According to the IMF (International Monetary Fund), Myanmar's GDP is expected to grow by USD 74.9 Billion by 2027. The county's GDP is growing significantly with increasing IT investments that would create new growth opportunities for the Myanmar ICT market.
Key players in the ICT market are taking initiatives to deploy 5G services in Myanmar. For Instance, ATOM, the service provider previously known as Telenor, announced that it's planning to invest hundreds of millions of dollars in Myanmar over the next several years to roll out the first 5G service in the market.
According to ITU, internet penetration in Myanmar is expected to grow steadily from 2019 to 2026. As per the research, the country's internet penetration increased from 51.1% in 2019. Also, Myanmar's internet penetration is expected to grow by 64.7% by 2026. The growing internet penetration will drive new growth opportunities for the Myanmar ICT market.
While the COVID-19 epidemic influenced the Myanmar ICT market by deploying new technologies to increase efficiency, robotic process automation, big data, artificial intelligence, machine learning, blockchain, cloud computing, the internet of things, cybersecurity, and augmented/virtual reality are accelerating the Myanmar ICT market growth.

Myanmar ICT Industry Segmentation

Myanmar's ICT market includes deep analysis of critical technology investments such as cloud technologies and artificial intelligence.

Myanmar ICT Market is segmented by type (hardware, software, IT services, telecommunication services), by the size of the enterprise (small and medium enterprises, large enterprises), by end-user vertical (BFSI, IT & Telecom, government, retail, and E-Commerce, manufacturing, energy, and utilities, and other industry verticals).

The market sizes and forecasts are provided in value (USD million) for all the above segments.

By Type
		Hardware
		Software
		IT Services
		Telecommunication Services

By Size of Enterprise
		Small and Medium Enterprises
		Large Enterprises

By Industry Vertical
		BFSI
		IT and Telecom
		Government
		Retail and E-commerce
		Manufacturing
		Energy and Utilities
		Other Industry Verticals

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Myanmar ICT Market Size Summary

The Myanmar ICT market is poised for growth, driven by a strong focus on digital technology, cybersecurity, artificial intelligence, and IT infrastructure. The sector encompasses both IT and telecom markets, with significant investments in digitalization and scalable IT infrastructure. The adoption of 5G networks and increased technology penetration are key factors propelling market expansion. The country's GDP growth, supported by rising IT investments, is expected to create new opportunities within the ICT sector. Major players are actively deploying 5G services, with significant investments planned to enhance connectivity and digital services. The COVID-19 pandemic has further accelerated the adoption of advanced technologies such as cloud computing, IoT, and AI, contributing to the market's growth trajectory.

The ICT industry in Myanmar is experiencing a surge in private and state investments, driven by rising consumer demand for cloud services and greater agility in IT infrastructure. Collaborations between key players, such as Huawei and Ooredoo Myanmar, are facilitating the introduction of innovative cloud solutions. Government initiatives to promote technologies like 5G, AI, and big data are also contributing to market growth. The expansion of telecom infrastructure, including new data centers and high-speed connectivity services, is creating additional growth opportunities. As smartphone adoption increases and broadband services expand, the demand for ICT products and services is expected to rise, further enhancing the market's competitive landscape.

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Myanmar ICT Market Size - Table of Contents

1. MARKET INSIGHTS
1. 1.1 Market Overview
2. 1.2 Industry Stakeholder Analysis
3. 1.3 Industry Attractiveness-Porter's Five Forces Analysis
  1. 1.3.1 Bargaining Power of Suppliers
  2. 1.3.2 Bargaining Power of Consumers
  3. 1.3.3 Threat of New Entrants
  4. 1.3.4 Threat of Substitute Products
  5. 1.3.5 Intensity of Competitive Rivalry
4. 1.4 Impact of COVID-19 on the Market
2. MARKET SEGMENTATION
1. 2.1 By Type
  1. 2.1.1 Hardware
  2. 2.1.2 Software
  3. 2.1.3 IT Services
  4. 2.1.4 Telecommunication Services
2. 2.2 By Size of Enterprise
  1. 2.2.1 Small and Medium Enterprises
  2. 2.2.2 Large Enterprises
3. 2.3 By Industry Vertical
  1. 2.3.1 BFSI
  2. 2.3.2 IT and Telecom
  3. 2.3.3 Government
  4. 2.3.4 Retail and E-commerce
  5. 2.3.5 Manufacturing
  6. 2.3.6 Energy and Utilities
  7. 2.3.7 Other Industry Verticals